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Dec 8, 2013
12/13
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don't pay federal income taxes? they don't get any tax benefit. >> i think you're right that there are a lot of people who would want to weigh in on that question. what i can contribute is there is something called the savers credit. the savers credit is targeted to households, i believe the cutoff is $50,000. it's original policy design, as i understand it, and it's designed to be a refundable credit. so for people who do not have a tax liability, they could still receive some sort of incentive to save money. somewhere through the political process, the refundability fell out. i mention it, because i think it provides a template for what might be what you're suggesting, which is a set of policies that provide a clear incentive for working households to accumulate money. doing it in the context of the tax code has a lot of benefits and back to my schematic here of a national tax time savings infrastructure, if you sprinkle in an incentive on top of that set of pipes and plumbing, you really have a recipe for turbo c
don't pay federal income taxes? they don't get any tax benefit. >> i think you're right that there are a lot of people who would want to weigh in on that question. what i can contribute is there is something called the savers credit. the savers credit is targeted to households, i believe the cutoff is $50,000. it's original policy design, as i understand it, and it's designed to be a refundable credit. so for people who do not have a tax liability, they could still receive some sort of...
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Dec 9, 2013
12/13
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negotiators are looking at any tax hikes. they're also not looking at significant cuts to medicare, medicaid or social security. instead of looking at small is more to their retirement plans. they're trying to keep that a bit lower. they're also looking at funds by selling a spectrum. looking at a small budget deal. this is part of a different budget process. >> why can there be something like a grand bargain right now? democrats are not willing to do any kind of medicare and medicaid. republicans are not willing to do any tax hikes. ryan and patty murray basically decided that they were not going to go after the sacred cow of the other party. they are trying to get something that was possible. we are not even going to go there this time. host: talking with ian swanson of "the hill." even if there is a agreement made this week, there will be a budget battle for 2014. caller: one thing this he'll will not do is raise the debt ceiling. at some point next year they are going to have to do that. it is a little difficult to foreca
negotiators are looking at any tax hikes. they're also not looking at significant cuts to medicare, medicaid or social security. instead of looking at small is more to their retirement plans. they're trying to keep that a bit lower. they're also looking at funds by selling a spectrum. looking at a small budget deal. this is part of a different budget process. >> why can there be something like a grand bargain right now? democrats are not willing to do any kind of medicare and medicaid....
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Dec 9, 2013
12/13
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is the uk taxpayer funding a tax of stolenthe transfer funds? be familiar with the tax laws. i think we'll move on to the next -- don't see -- >> order, mr. ellis. perhaps we must go to the the 1930s.n asking you questions. were you surprised at the amount of intelligence gathering which revealed as a result of what snowden gave to your newspaper media outlets? >> i think many people are the amount of -- > gave yourself, if i may interrupt, were you -- >> i was staggered. think we all knew that the intelligence agencies collected data.of and people are still trying to make out as though this data -- nothing has changed in the last 15 years since the laws were passed with a lot of analog laws that deal with the digital world. i think the last serious law passed about as 2000, athis material was time when facebook hasn't been doing d, when google was the initial funding round. and we're pretending that the really crocodile clips on copper wires are with the e to deal collection of maybe 3 billion metadata around those in a day. so, yes, there's a staggering mount of information
is the uk taxpayer funding a tax of stolenthe transfer funds? be familiar with the tax laws. i think we'll move on to the next -- don't see -- >> order, mr. ellis. perhaps we must go to the the 1930s.n asking you questions. were you surprised at the amount of intelligence gathering which revealed as a result of what snowden gave to your newspaper media outlets? >> i think many people are the amount of -- > gave yourself, if i may interrupt, were you -- >> i was staggered....
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Dec 4, 2013
12/13
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people who are here -- this is a tax. he cannot change tax laws. i wish she would bring that truck driver agreement and when he signed it into law and throughat up immigration and stuff like that. give the american people a voice. the house judiciary committee held a hearing recovered -- we about the president and executive power, republicans siding that he change the health power andy executive that he has done the same on other issues. that,'re interested in you can go to our website c- span.org and you can see it there. we covered that hearing yesterday. that policyying differences don't constitute a constitutional crisis. that was their opinion of yesterday's hearing. in ohio.to ed republican. caller: good morning. of course people should be fired. from the head of the fish to the bottom. there is a pattern in this whole administration. it is nonstop. denial, denial, deny -- they are --yal to ridiculously that would be the last person he would fire. people keep forgetting all of these little things they slipped in. he is very bright. he came in
people who are here -- this is a tax. he cannot change tax laws. i wish she would bring that truck driver agreement and when he signed it into law and throughat up immigration and stuff like that. give the american people a voice. the house judiciary committee held a hearing recovered -- we about the president and executive power, republicans siding that he change the health power andy executive that he has done the same on other issues. that,'re interested in you can go to our website c-...
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Dec 9, 2013
12/13
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the tax is a federal tax. it is important to account for it separately since we have a dedicated payroll tax for that purpose. balancing should be -- ideally it would be good if we could say social security was completely off budget. and technically speaking it is off budget. it is money that comes into the treasury and the benefits go out. it is not as if beneficiaries -- we talk about the payroll tax being insufficient to cover benefits, which it is right now. the program is running a deficit. able toecurity is receive sufficient funding by cashing in the bonds it has in that is anund, but expense to the treasury which has to come up with the money to cover those bond payments into social security. the bottom line is it is part of the federal budget. we have not privatized the system. the money is accounted for separately. the government is not going to default on the money it owes to social security or to the medicare part a trust fund. host: bob is on our line for and dependents. -- for independents. calle
the tax is a federal tax. it is important to account for it separately since we have a dedicated payroll tax for that purpose. balancing should be -- ideally it would be good if we could say social security was completely off budget. and technically speaking it is off budget. it is money that comes into the treasury and the benefits go out. it is not as if beneficiaries -- we talk about the payroll tax being insufficient to cover benefits, which it is right now. the program is running a...
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Dec 9, 2013
12/13
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>> you may not be familiar with the tax laws. i think we'll move on to the next -- >> i don't see -- >> order, mr. ellis. >> perhaps we must go to the courtroom in the 1930's. asking you questions. were you surprised at the amount of intelligence gathering which was revealed as a result of what snowden gave to your newspaper and other media outlets? >> i think many people are staggered by the amount of -- >> gave yourself, if i may interrupt, were you -- >> i was staggered. i think we all knew that the intelligence agencies collected a lot of data. and people are still trying to make out as though this data -- as though nothing has changed in the last 15 years since the laws were passed with a lot of analog laws that deal with the digital world. i think the last serious law that -- that was passed about any of this material was 2000, a time when facebook hasn't been invented, when google was doing the initial funding round. and we're pretending that the laws that cover really crocodile clips on copper wires are stretchable to dea
>> you may not be familiar with the tax laws. i think we'll move on to the next -- >> i don't see -- >> order, mr. ellis. >> perhaps we must go to the courtroom in the 1930's. asking you questions. were you surprised at the amount of intelligence gathering which was revealed as a result of what snowden gave to your newspaper and other media outlets? >> i think many people are staggered by the amount of -- >> gave yourself, if i may interrupt, were you --...
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Dec 10, 2013
12/13
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, those taxes were actually terrorists. it was the king of england signing proposed tariffs on trade and tea among other things to generate money for his foreign wars trade grade when the founders wrote the constitution they very explicitly made sure that congress, the body closest to the people had exclusive authority over trade. they wanted to make sure the executive couldn't just unilaterally impose some trade policy that favored a friend or foreign interests. so when the founders wrote the constitution in article i a congress had exclusive authority over foreign commerce and setting tariffs. nixon in 1974 came in and with fast track up-ended 200 years of congress is control of trade policy that the founders wisely created in the constitution. but also fast-track open the door to what is often called diplomatic legislative as well as giving the executive branch a new and enormous role in control over trade agreements. fast-tracked or the first time ever authorized u.s. negotiators to actually set rules in trade negotiati
, those taxes were actually terrorists. it was the king of england signing proposed tariffs on trade and tea among other things to generate money for his foreign wars trade grade when the founders wrote the constitution they very explicitly made sure that congress, the body closest to the people had exclusive authority over trade. they wanted to make sure the executive couldn't just unilaterally impose some trade policy that favored a friend or foreign interests. so when the founders wrote the...
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Dec 5, 2013
12/13
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immigrants contribute to our economy through taxes, state and local taxes paid in 2010 alone by households headed by undocumented immigrants was over $11 billion. and this is according to the institute for taxation and economic policy. undocumented immigrants contributed as much as $ billion in payroll taxes to the social security program in 2010. but only took $1 billion in benefits. creating a net positive effect on our social security system. to benefit americans. and this is according to the social security administration. despite their contributions, immigrants face exploitation and significant barriers to advancement. and again, that's not the america we should feel proud of. we have an opportunity to pass comprehensive immigration reform in this great country on this floor. all we need is the opportunity to put a bill up for a vote. and i believe that the majority of members of this house will do the righteous thing, the right thing, and welcome those immigrants and integrate them into our system and we will see the economy of the united states of america flourish once again like we
immigrants contribute to our economy through taxes, state and local taxes paid in 2010 alone by households headed by undocumented immigrants was over $11 billion. and this is according to the institute for taxation and economic policy. undocumented immigrants contributed as much as $ billion in payroll taxes to the social security program in 2010. but only took $1 billion in benefits. creating a net positive effect on our social security system. to benefit americans. and this is according to...
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Dec 8, 2013
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we still have to pay federal income tax on that. they say these people will stay on unemployment and not look for work. unemployment does not pay that much. it is not like you are collecting $1000 a week. it is only like $371 a week with sequestration. it is a good thing my wife works full time. for long-term unemployment, it is not much. unemployment does not last long. i would like your guest to comment on that. guest: there is no doubt unemployment does not replace the income of the job. i think it does speak to the fact that american families are having to readjust their lifestyle and get by with less. when they do take a job, taking $20 an hourom a job. hopefully unemployment gives them time to find the best job for their families. ideologically on the other side, some people say there would be a sense of urgency when benefits run out. host: let me go through the breakdown of the numbers based on gender and race. the overall unemployment rate for white males is 6.7%. teenagers, nearly 21%. whites overall at 6.2%. atican-america
we still have to pay federal income tax on that. they say these people will stay on unemployment and not look for work. unemployment does not pay that much. it is not like you are collecting $1000 a week. it is only like $371 a week with sequestration. it is a good thing my wife works full time. for long-term unemployment, it is not much. unemployment does not last long. i would like your guest to comment on that. guest: there is no doubt unemployment does not replace the income of the job. i...
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Dec 3, 2013
12/13
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tax money to buy american-made. think back on jefferson who told his treasury secretary, give me a plan for the next century. the 18 hub's -- the 1800's. an economic development plan. and teddy roosevelt and then franklin roosevelt. eisenhower. men of vision, leaders of vision that were willing to step forward, willing to use the resources of this nation, collecting those resources and dispensing those resources across the nation, to build the foundation for economic growth. the make it in america agenda is available to us today. that agenda is a trade policy that protects american industry. not a free trade that gives it away, but a fair trade policy that protects american industry , a tax policy that encourages economic growth here in the united states. that rewards corporations for bringing it home and ends tax breaks for corporations that ship the jobs offshore. an energy policy that utilizes the great energy capacity of this nation, everything from conservation and wind and solar and indeed the petroleum produc
tax money to buy american-made. think back on jefferson who told his treasury secretary, give me a plan for the next century. the 18 hub's -- the 1800's. an economic development plan. and teddy roosevelt and then franklin roosevelt. eisenhower. men of vision, leaders of vision that were willing to step forward, willing to use the resources of this nation, collecting those resources and dispensing those resources across the nation, to build the foundation for economic growth. the make it in...
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Dec 3, 2013
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billion by reducing the tax gap through better enforcement of the i.r.s. code. those are specifics. they may be unpopular but at least they're specific. in stark contrast to go find $5.7 trillion unspecified that the republican budget included. the revenue enhancements provided in the c.b.c. budget would allow congress to totally cancel the sequester and pass a jobs package of at least $500 billion, at 50,000 each that's over 10 million jobs that could be created in one year with a jobs bill of that magnitude, almost enough to hire everybody drawing unemployment today. provide an additional $300 billion in long-term investments in our economy and education, job training, health care and advanced science and research. as i said earlier the reforms contained in the c.b.c. budget would reduce the deficit $2. trillion over the next decade compared to c.b.o.'s baseline that would put our nation on a strong, sustainable path. all without jeopardizing programs that support our seniors and programs that educate the next generation of leaders in business, science a
billion by reducing the tax gap through better enforcement of the i.r.s. code. those are specifics. they may be unpopular but at least they're specific. in stark contrast to go find $5.7 trillion unspecified that the republican budget included. the revenue enhancements provided in the c.b.c. budget would allow congress to totally cancel the sequester and pass a jobs package of at least $500 billion, at 50,000 each that's over 10 million jobs that could be created in one year with a jobs bill of...
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Dec 10, 2013
12/13
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number three, there's no new taxes. i would have hoped to have a little bit of entitlement reform but that apparently is too much to tackle. >> what do you think about the idea that democrats and republicans worked together on this? >> hallelujah. >> margaret is our next caller from seattle, washington, an independent. hi, what's your comment? >> i just wanted to congratulate ryan and murray for working together for something many of my democratic and republican friends all have as a major complaint. it's not discerning about the details. that's a really big disparity. a lot of us feel disenfranchised by the democrats because it's so sad to see the minority has ruled them instead of the majority of us who put them in place. so this is a really good thing for us. we're waiting for a few years. we kind of jumped off the democrat, went to independent, but there won't be an independent in the running it. will either be democrat or republican. so we're going to wait the next few years to see if they finish what they started,
number three, there's no new taxes. i would have hoped to have a little bit of entitlement reform but that apparently is too much to tackle. >> what do you think about the idea that democrats and republicans worked together on this? >> hallelujah. >> margaret is our next caller from seattle, washington, an independent. hi, what's your comment? >> i just wanted to congratulate ryan and murray for working together for something many of my democratic and republican friends...
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Dec 3, 2013
12/13
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that is something that congress is currently weighing is whether to tax financial transactions. it does not have a lot of support, so i do not see that happening anytime soon. europe is a little bit different, they have actually imposed some trading taxes, which has been to the chagrin of the banks. host: peter, on the republican line/ . caller: let's get the history state on what happened during the financial crisis. during the 1990s there was a lot of pressure by the minority groups to increase the amount of affordable housing. so the clinton administration developed the public private partnership to get banks to create more loads for low income people. that calls --was caused a mandate on fannie and freddie to purchase subprime mortgages. they had increased the mandate 110% to 55% of her juices of sub i mortgages. -- purchases of subprime mortgages. he continued that public-private partnership that clinton had , upblished the which after to 2007 and 2008, the number of those mortgages were so great that caused the financial collapse. the government gave the green light to wal
that is something that congress is currently weighing is whether to tax financial transactions. it does not have a lot of support, so i do not see that happening anytime soon. europe is a little bit different, they have actually imposed some trading taxes, which has been to the chagrin of the banks. host: peter, on the republican line/ . caller: let's get the history state on what happened during the financial crisis. during the 1990s there was a lot of pressure by the minority groups to...
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Dec 7, 2013
12/13
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we take a look at tax rates. it is congress that appears to allow a certain batch of temporary tax breaks to last at the end of 2013. ray from oklahoma city oklahoma, you are up next. are you there? good morning, you are on. i was calling about -- our man is going to make mistakes. the problem with the world, it does not have anything to do with obama. we have taken god out of everything he is doing. the next thing, minimum wage. i talked to a lot of people atut minimum wage at 7:25 -- $7.25 an hour. people say if you raise minimum wage, the influence will go up. everything else is already going up except minimum wage. years taken almost four to get it to seven dollars $.25. i am 61 years old, i am retired, and i have four kids. i have kids working for memo wage. they got student loans to pay back. journal"ll street talking about unemployment benefits in several stories, set to expire on september 28. several democrats are pushing for a vote to extend the benefits. house democrats propose renewing the program for
we take a look at tax rates. it is congress that appears to allow a certain batch of temporary tax breaks to last at the end of 2013. ray from oklahoma city oklahoma, you are up next. are you there? good morning, you are on. i was calling about -- our man is going to make mistakes. the problem with the world, it does not have anything to do with obama. we have taken god out of everything he is doing. the next thing, minimum wage. i talked to a lot of people atut minimum wage at 7:25 -- $7.25 an...
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Dec 5, 2013
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trade adjustment assistance and tax extenders have been referenced. hopefully we could do all of those. of course, we have a very short period of time left to do that. let me ask the majority leader, given that short time, does the majority leader have a high degree of confidence that in fact he will be seeking to follow the calendar that's been set out by the majority leader to end this first session of this congress indeed on the scheduled date of december 13, and i yield to my friend? mr. cantor: i thank the gentleman for the recitation of his desired wish list for what he'd like to see on the floor. i'd like to remind the gentleman, mr. speaker, this house has passed well over 140 if not 150 bills very much focused on job creation, very much focused on trying to make sure that we address the needs of those who are most vulnerable right now, trying to make sure that we can sustain the safety net while equipping those that are without the tools necessary to get up on that ladder of success. unfortunately, mr. speaker, the senate has just refused to
trade adjustment assistance and tax extenders have been referenced. hopefully we could do all of those. of course, we have a very short period of time left to do that. let me ask the majority leader, given that short time, does the majority leader have a high degree of confidence that in fact he will be seeking to follow the calendar that's been set out by the majority leader to end this first session of this congress indeed on the scheduled date of december 13, and i yield to my friend? mr....